Dover Co. (DOV) Position Lifted by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA increased its holdings in shares of Dover Co. (NYSE:DOV) by 283.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,094 shares of the industrial products company’s stock after acquiring an additional 96,897 shares during the period. BNP Paribas Arbitrage SA’s holdings in Dover were worth $12,876,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Optimum Investment Advisors acquired a new position in Dover during the first quarter worth $104,000. Tower Research Capital LLC TRC grew its holdings in Dover by 891.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock worth $179,000 after acquiring an additional 1,596 shares during the period. Smithfield Trust Co. grew its holdings in Dover by 916.7% during the first quarter. Smithfield Trust Co. now owns 1,830 shares of the industrial products company’s stock worth $180,000 after acquiring an additional 1,650 shares during the period. Somerville Kurt F acquired a new position in Dover during the fourth quarter worth $202,000. Finally, Associated Banc Corp acquired a new position in Dover during the fourth quarter worth $202,000. 85.65% of the stock is currently owned by hedge funds and other institutional investors.
DOV opened at $77.21 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.95 and a debt-to-equity ratio of 0.68. The firm has a market cap of $12.04 billion, a P/E ratio of 19.16, a P/E/G ratio of 1.24 and a beta of 1.32. Dover Co. has a 52 week low of $62.10 and a 52 week high of $88.11.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Wednesday, May 30th. Dover’s payout ratio is currently 46.65%.
Several research firms have weighed in on DOV. BMO Capital Markets lowered their target price on Dover from $118.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, April 30th. Morgan Stanley lowered their target price on Dover from $113.00 to $106.00 and set an “overweight” rating on the stock in a report on Monday, April 30th. Citigroup lowered their target price on Dover from $115.00 to $105.00 and set a “neutral” rating on the stock in a report on Monday, April 30th. Stifel Nicolaus upped their target price on Dover from $102.00 to $104.00 and gave the company a “hold” rating in a report on Monday, April 30th. Finally, ValuEngine lowered Dover from a “hold” rating to a “sell” rating in a report on Wednesday, May 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $104.92.
In related news, VP Paul Goldberg sold 3,300 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $102.00, for a total transaction of $336,600.00. Following the sale, the vice president now owns 4,545 shares of the company’s stock, valued at $463,590. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jay L. Kloosterboer sold 14,745 shares of the stock in a transaction on Tuesday, May 29th. The shares were sold at an average price of $78.67, for a total value of $1,159,989.15. Following the sale, the senior vice president now directly owns 23,096 shares in the company, valued at approximately $1,816,962.32. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.
Dover Company Profile
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.
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